Lake County’s Board of Commissioners recently approved a pair of enterprise zone applications for two renewable energy projects.
Enterprise zone designations provide for a three-year abatement period on property taxes for eligible projects as an economic incentive.
Element Power, LLC, and Surprise Valley Electrification Corp., respectively, applied for this designation.
The former is developing a solar energy facility in Christmas Valley, while the latter is developing a geothermally-based power generation facility in Paisley.
In the case of both projects, the county approved an exemption from a previous requirement for at least one full-time employee.
The Senate recently passed House Bill 2981, which waives this requirement as solar energy projects generally do not require a full-time employee for their operations.
This exemption waives Element Power from the county’s Rural Rewnewable Energy Development Zone’s requirement of the creation of at least one full-time position.
The solar project is expected to cost an estimated $9 million. The site upon which it will be located is currently generating a minimal amount of property taxes, but in the fourth year of the project’s operation is expected to generate an estimated $15,000 in property taxes.
Similarly, the Paisley geothermal facility is expected to have periodic maintenance requirements, and also generate at least one full-time job. According to paperwork with the firm’s enterprise zone application, the company will enter into a First Source Hiring Agreement with Worksource of Lake County.
The cost of the machinery associated with the Paisley project is expected to exceed $11 million, with equipment installation expected this month and an estimated completion date of November.
Structures on site would be completed by March 2014.